(Bloomberg) -- Jim Kelsoe, a top-ranked junk-bond
fund manager since 2000, dropped to last place this year because
of losses tied to mortgages for people with poor credit.
Kelsoe's $1.1 billion Regions Morgan Keegan Select High
Income Fund fell 4.2 percent from the beginning of 2007 as
defaults on subprime home loans reached a five-year high. The
mutual fund had 15 percent of assets in the subprime market and
at least the same amount in other mortgage debt in May.
Read more at Bloomberg Bonds News
fund manager since 2000, dropped to last place this year because
of losses tied to mortgages for people with poor credit.
Kelsoe's $1.1 billion Regions Morgan Keegan Select High
Income Fund fell 4.2 percent from the beginning of 2007 as
defaults on subprime home loans reached a five-year high. The
mutual fund had 15 percent of assets in the subprime market and
at least the same amount in other mortgage debt in May.
Read more at Bloomberg Bonds News
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